OKBFAA Update on Coronavirus

OKBFAA members provide vital services that are even more important as we all deal with the Coronavirus. Our member companies are committed to providing service 24/7 365 days a year. Members may not be able to shut down services.

OKBFAA is keeping in contact with the Governor’s office, OK Department of Labor, and the CIB to clarify rulings and directives that are happening at a rapid pace. We have compiled resources for your information.

OK Dept of Commerce - Weekly Update Call Information for Businesses

Department of Commerce needs to hear from businesses and to give updates.

You are invited to participate in a call with the Oklahoma Department of Commerce!

The ODOC wants to hear from small businesses. See the information below to join one of eight industry calls that start tomorrow. This is part of a larger, multi-industry initiative to help Oklahoma recover from economic damage relating to the COVID-19 outbreak.

Please note that the calls are limited to 1,000 participants each, and will be first come, first served. The intent is to have the calls every Wednesday for the foreseeable future.

Oklahoma SBDC advisors can help you assemble your SBA Economic Injury Disaster Loan application and talk through ideas to help keep your business operational during this pandemic. Visit www.OKSBDC.org or call 580-745-2877 for assistance.

4. DOC is working to get out a list defining Essential Business per the Governor’s Executive Order. At current time, they are still using the Cyber Infrastructure list from Homeland Security– https://www.cisa.gov/. The Governor in his second executive order on Tuesday, March 24, 2020, tried to provide clarification which can be accessed on the Sec of State website www.sos.ok.gov/documents/executive/1920pdf

Additionally, the U.S. Department of Treasury issued additional guidance yesterday regarding the Paycheck Protection Program. Links to the resources provided by Treasury can be found, or on their webpage<https://t.e2ma.net/click/5fmfhc/tamql0/5rngoj>.

Essential Business Definations

DOC is working to get out a list defining Essential Business per the Governor’s Executive Order. At current time, they are still using the Cyber Infrastructure list from Homeland Security – https://www.cisa.gov/. The Governor in his second executive order on March 23, 2020, tried to provide clarification which can be accessed on the Sec of State website www.sos.ok.gov/documents/executive/1920pdf

Essential Employee Letters

If you are operating in an area that has imposed a stay at home order consider providing your employees with a letter. You may also want to give them a copy of the CISA Guidelines.

The Monitoring Association (TMA) Sample Letters: Any company using these samples must edit them for their own use and must perform their own internal review/due diligence after their edits and customization.

COVID-19 Federal Relief Bill

Congress passed and the President signed the COVID relief bill representing $2 trillion dollars for COVID 19 relief efforts. On a call with Senator Lankford Friday, we learned that the Government’s intent was to get this aid to businesses as soon as possible. That is why community and local banks will be involved in the disbursement of excusable grants for business and their payroll, utilities (including mortgages or rent). Additionally there are loans up to $10 mil at 4% interest all accessible now through June 30, 2020. More information can be found here.